He still has it backwards. The Treasury prints BONDS. Then, a separate, totally private bank called the "Federal" Reserve prints USD and buys the bonds from the Treasury, thus the gov't has "cash".
@@sociallyretarded2909 its a small club, but a good one. It's nice to meet others who have spent the time to learn about the world they live in. Nice to e-meet you!
Which is called the national debt. You are taxed to service the national debt interest. In addition, each time a mortgage is issued for a house sale, that money comes into existence. You pay interest on a loan the bank never had in cash. When a house is sold 5 times: 5 mortgages dump more dilution into the dollar pool. Then, Eurodollar and swop lines...
The answer is that money is borrowed because the amount of money out in the world compared to amount of labor directly ties to inflation. Countries that act as a center of value, by definition, cannot go bankrupt. They instead enter into an inflationary death spiral. The fact he only seems to grasp that the US can’t go bankrupt and NOTHING ELSE is one of the most alarming things I’ve ever heard. This man apparently knows less than some freshmen I tutor. I don’t know why he was picked but it seems I now know why we’ve had such a poor financial recovery from Covid.
Depends if your economy is expanding or not you have 3% growth and inflation has an effect as does printing money on inflation but Monetarism as a theory has been to show to have major flaws.
If they can just print there own money, way do they tax us? Can't the just print the taxes we owe? It's a mess and the little people will pay or be jailed.
They printed trillions of dollars during the pandemic. Look at where that got us. High inflation and increased food costs. Increased gas prices. Inflated rent. The answer isn't to print more money. That would make us like Venezuela, where our money wasn't worth the fabric it's printed on. A million dollar loaf of bread.
Fractional Reserve Banking System. Been around since 1913. A very specific group of people that, one might say, we aren’t allowed to criticize, own the US Federal Reserve and most other central banking systems around the world.
We the people loan the government money. The government prints money and lends money on the sole promise that they will take in OUR money via taxes to pay it back. We ALLOW the government to print and regulate our currency to make our private financial transactions more convenient. Vote Libertarian party people.
The Federal Reserve is not a government entity. The us mint is the only government controlled money maker, coins that cost more in materials than the value of the coin.
S&P nearing new all times highs! Not due to the actions of any competent individual but the incessant need for things that people have. The people who have more want more and the people who have nothing want enough. Neither are satisfied and both continue burning wealth to "create" no actual value.
By lending out the money instead of giving (printing infinite vs printing on loan), you decrease the chance of run away inflation and create a currency that is more stable which allows more countries to trust the currency.
If the USA just prints as much money as it wants, it will decrease the value of its dollar/economy. Thats the reason for our current inflation at the moment. Allot of money was printed and given away to stay afloat during the pandemic. However that creates a Debt. We are in the situation we are in because of that Debt. In other words the money wasn't free. It is money that will have to be paid back one way or another. Unfortunately the vast majority of that pandemic money was used to keep giant companies afloat and we the poor citizens are left with the debt while most of them kept their million dollar salary instead of doing the right thung and reducing their pay during the pandemic. Thats just how corrupt many of the big wigs are and people in government nit only support it but create the laws that allow it to happen. So from my understanding of basic economics Bonds are sold to anyone wanting to purchase. Bonds usually from what I remember are government debt, in other words uou are chipping in to help pay the debt the USA has made for itself. Hence the idea of borrowing money. So you buy the debt, the government uses that money to lower its debt which helps its economy grow. With time you can sell back the debt you purchased and you should recieve more than what you originally bought it for. Think of it as a loan with interest. I am pretty sure thats how it works but this is also HS economics and 30 years ago for me. So i might have gotten a few things wrong, economics was an incredibly boring subject and dozed off allot in that class. Lol Hence why i didnt study economics 😂
For the love of God stop picking people out of popularity pick people out of their education I'm not saying a person who went to school to become a politician I'm saying someone who went to school to be I don't know an accountant or went to the military or I don't know something that's useful
To find the video that's being viewed, search youtube for "Finding the Money". All I know is the bottom video is by a channel called Washington Free Beacon.
Gov sells bonds named after its citizens to the fed reserve. The fed can print the money not the government but the fed it privately owned and foreign so I get why hes studdering
The fact that the economic advisor is struggling to explain how the paper economy of the US works is telling.
He isn't struggling to know how it works he is struggling to explain it without exposing the entire fraud that it is .
Is it fact that he's an economic advisor? Check sources
@@jonsingleton203facts I was just about to say that he know but if you explain it in a way someone can understand it’s the biggest scam in history 😅😂😂
25% of US debt is inter departmental (as in the government owns it)
We're so fucking screwed
Yup
Truly fucked
That guy needs to be fired. We need people in the government that care for the people and not use us
Do his job then lmfao like what
Yesterday I met a 9 year old Thai kid with a book on Money.
She could explain the mechanism to him.
Not joking.
He still has it backwards. The Treasury prints BONDS. Then, a separate, totally private bank called the "Federal" Reserve prints USD and buys the bonds from the Treasury, thus the gov't has "cash".
You’re the first person I’ve run into on these videos that understands that the “FED” isn’t an American institution. We’re boned bud.
The FED, or other governments, or citizens, no?
@@sociallyretarded2909 its a small club, but a good one. It's nice to meet others who have spent the time to learn about the world they live in. Nice to e-meet you!
Which is called the national debt.
You are taxed to service the national debt interest.
In addition, each time a mortgage is issued for a house sale, that money comes into existence.
You pay interest on a loan the bank never had in cash.
When a house is sold 5 times:
5 mortgages dump more dilution into the dollar pool.
Then, Eurodollar and swop lines...
this is high school level macroeconomics, are they really that deficient?
no. they understand this country will never fight back. look at Americans lol. way too comfortable and cowardice to move a finger.
Bidens Economic Advisor--O.M.G.
The answer is that money is borrowed because the amount of money out in the world compared to amount of labor directly ties to inflation.
Countries that act as a center of value, by definition, cannot go bankrupt. They instead enter into an inflationary death spiral.
The fact he only seems to grasp that the US can’t go bankrupt and NOTHING ELSE is one of the most alarming things I’ve ever heard.
This man apparently knows less than some freshmen I tutor. I don’t know why he was picked but it seems I now know why we’ve had such a poor financial recovery from Covid.
You had the best reaction ever😂😂
and he's the ECONOMIC ADVISOR OF THE UNITED STATES?
for fuck sake we're cooked
If they print more money than the value of the money will go down. This guy has no idea what he's talking about
Germany 1931
Depends if your economy is expanding or not you have 3% growth and inflation has an effect as does printing money on inflation but Monetarism as a theory has been to show to have major flaws.
Even the guy reacting doesn’t know what the fuck is going on
This is nothing short of scary.
Welcome to the world of fiat currency, people. Fifty years after leaving the gold standard, we are on the cusp of economic collapse.
Ive said this 1000x times, we are SCREWED
I thought the Federal Reserve was a private bank
I love the response😂
The Dunning-Kruger effect occurs when a person's lack of knowledge and skill in a certain area causes them to overestimate their own competence.
If they can just print there own money, way do they tax us? Can't the just print the taxes we owe? It's a mess and the little people will pay or be jailed.
They printed trillions of dollars during the pandemic. Look at where that got us. High inflation and increased food costs. Increased gas prices. Inflated rent. The answer isn't to print more money. That would make us like Venezuela, where our money wasn't worth the fabric it's printed on. A million dollar loaf of bread.
Best explanation of fiat currency ever!
Love this guy. Steals wood tho...
Money printing makes prices go up and people lose their homes in the us.
Her book on modern monetary theory is quite good.
Fractional Reserve Banking System. Been around since 1913. A very specific group of people that, one might say, we aren’t allowed to criticize, own the US Federal Reserve and most other central banking systems around the world.
He understands how it works he is struggling to explain it without exposing it for the scam that it is .
Two words…”Money laundering”
The USSR could never go bankrupt because we could just print our own ruples 😂😂😂
@TheStockGuy Where can I find the full video of this?
its not what you know, its who you know
Well that sums up the Biden administration
How are they failing so badly in understanding basic economy on how fiat currency work?
We the people loan the government money. The government prints money and lends money on the sole promise that they will take in OUR money via taxes to pay it back. We ALLOW the government to print and regulate our currency to make our private financial transactions more convenient. Vote Libertarian party people.
The Federal Reserve is not a government entity. The us mint is the only government controlled money maker, coins that cost more in materials than the value of the coin.
Rhodesia has entered the chat
The bank is not a part of the government, the bank is owned by other banks
Bitcoin fixes this
S&P nearing new all times highs! Not due to the actions of any competent individual but the incessant need for things that people have. The people who have more want more and the people who have nothing want enough. Neither are satisfied and both continue burning wealth to "create" no actual value.
This is a joke.
This has to be a joke
Please let this be a joke.
I need this to be a joke.
They can't all be this incompetent.
Working near Biden is contagious, I guess. This man couldn't tell his right hand from his left.
Guy looks like skinny Ethan from h3h3 lol
Then why even tax us in the first place?
By lending out the money instead of giving (printing infinite vs printing on loan), you decrease the chance of run away inflation and create a currency that is more stable which allows more countries to trust the currency.
It's not what you know, It's who you know. And that's what's wrong.
We’re doomed
This whole administration is a joke. A cruel one that all of us Americans will have to pay for for many generations.
we've had 2 of those back to back and slightly less worse ones before it. the next one will be terrible and the one after that
@@smashinstein12122 when was the last administration that wasn't a joke by your estimation?
I'll be honest. I don't have a keen understanding either, but I don't work for the president
Let's go 8randon!
That guy needs to quit
We are so fucking over man
What do I search to see this video?
So when is this treason?????
A Robert Reich student.
There is no way that is an advisor hoooolllyyyy
The president of El Salvador explained it better! Look it up
No wonder my dollar is going soooo far these days....
Wtf... High school children can explain this better, what's this guy doing in ANY kind of high level position or having any kind of authority
Peter Joseph
If the USA just prints as much money as it wants, it will decrease the value of its dollar/economy. Thats the reason for our current inflation at the moment. Allot of money was printed and given away to stay afloat during the pandemic. However that creates a Debt. We are in the situation we are in because of that Debt.
In other words the money wasn't free. It is money that will have to be paid back one way or another. Unfortunately the vast majority of that pandemic money was used to keep giant companies afloat and we the poor citizens are left with the debt while most of them kept their million dollar salary instead of doing the right thung and reducing their pay during the pandemic.
Thats just how corrupt many of the big wigs are and people in government nit only support it but create the laws that allow it to happen.
So from my understanding of basic economics Bonds are sold to anyone wanting to purchase. Bonds usually from what I remember are government debt, in other words uou are chipping in to help pay the debt the USA has made for itself. Hence the idea of borrowing money. So you buy the debt, the government uses that money to lower its debt which helps its economy grow. With time you can sell back the debt you purchased and you should recieve more than what you originally bought it for. Think of it as a loan with interest.
I am pretty sure thats how it works but this is also HS economics and 30 years ago for me. So i might have gotten a few things wrong, economics was an incredibly boring subject and dozed off allot in that class. Lol Hence why i didnt study economics 😂
Never said bank
Look up his last name you'll have your answer lady
Economics is a fugazi
No shit this is real
"I don't get it" - lead Biden administration of economics 2024
Good job democrats 👍
For the love of God stop picking people out of popularity pick people out of their education I'm not saying a person who went to school to become a politician I'm saying someone who went to school to be I don't know an accountant or went to the military or I don't know something that's useful
Why pay taxes?
bidenomics...
Bidenomics
Is that real or deepfaked
It is fake.
To find the video that's being viewed, search youtube for "Finding the Money".
All I know is the bottom video is by a channel called Washington Free Beacon.
Gov sells bonds named after its citizens to the fed reserve. The fed can print the money not the government but the fed it privately owned and foreign so I get why hes studdering
Most people have no clue. Ron Paul was right, end the Federal Reserve.
Stop paying taxes... stop working.... stop being a wage slave.... everyone has to do it.... well a large Majority ....
This should scare the shit out of you!!!?
That are stealing ok